Do you think each country in the future will have its exchange they own?
The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?
Hmm, it is a good question, what I think is they already have exchanges in their possession, maybe the government does not own them but the US government does control these exchanges, like how the SEC has fined Binance, Kraken, and some other exchanges just because their policy didn't match with the policy of the country where they are functioning. So, governments imposed huge fines on them and asked them to change their rules, so IMO if a entity is powerful enough to make changes in someone's project then that entity is close enough to owning that project.
So, yeah a time will come when whole exchanges will be owned by the government, but it would be almost equal to using a bank but for using digital tokens (tokenization of RWAs maybe). We can't enjoy the features of anonymity, decentralization, and scope as well.. But I doubt besides traditional investors and trades, anyone else will use these government-based exchanges.